Economic turmoil as war rattles world markets

WAR-fuelled stock market increases stalled and the US dollar slid after US President George W Bush cautioned the war with Iraq "could be longer and more difficult than some predict".

Irish shares fell as the ISEQ ended a six-day winning streak, while the FTSE remained flat, European stocks ended a five-day upward swing and the US dollar dropped.

Irish Life & Permanent Plc fell after European rival Allianz AG announced plans to sell as much as 5 billion in shares and bonds. Irish Continental Group Plc gained on market expectations that it will benefit if oil prices fall.